![]() How can I find out my Estimated Market Value or Classification?īoth of these items are mailed out to all taxpayers on a form called the notice of valuation and classification. Classification for property tax purposes may be different than a zoning classification.ģ. This may mean that a vacant lot on a busy highway that is zoned commercial has a commercial tax classification. In the case of vacant property that does not have a clear use, the classification is often the highest and best use of the property. These classifications are set by State Statutes. Assessors are responsible for putting property tax classifications on all types of real estate. The property tax classification usually refers to the use of the property as of the assessment date. The price obtained at a forced sale shall not be considered.Ģ. ![]() Minnesota Statute 272.03 Subdivision 8 defines market value as ‘the usual selling price at the place where the property to which the term is applied shall be at the time of assessment being the price which could be obtained at a private sale or an auction sale, if it is determined by the assessor that the price from the auction sale represents an arm’s-length transaction. ![]() The Estimated Market Value (EMV) is what the assessor estimates your property would likely sell for on the open market. Please contact the Aitkin County Assessor’s Office for additional information. The answers below are intended to be simple and brief and may not fully address each question. What are the educational or licensing requirements for assessors? ![]()
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